Bitcoin mining firm Poolin has filed for Chapter 11 bankruptcy alongside its U.S. affiliates as it seeks to auction two mining sites in West Texas. The company has secured a $52 million opening bid from Thor CALAP LLC and plans to use the proceeds to repay creditors, including 11,700 wallet customers owed $163.7 million. Once the world’s largest Bitcoin mining pool, Poolin struggled after China’s 2021 mining ban, the 2022 crypto market downturn, and rising energy costs.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Global oil giants Norway (the 12th-largest global oil producer) and the United Arab Emirates (UAE;…
XRP fell below the $1 mark this week, touching as low as $0.99, as a…
Bitcoin has lost half its value since October, sliding from record highs to trade well…
HBAR price action is getting ugly again. The token is approaching $0.045 after breaking below…
Aptos has crossed a notable stablecoin milestone, but its native token is not exactly celebrating.…
Largest corporate Bitcoin treasury Strategy is facing a new threat from MSCI that came at…
